Stockport’s Petersgate House to go under the hammer
Proudkey Properties is seeking to offload the 20,800 sq ft office block with a guide price of £1.7m.
SDL Property Auctions will sell the six-storey Petersgate House at its January auction. Impey & Co is the joint agent for the building.
The office is located in an area of Stockport where several residential projects are coming forward.
One Heritage Group is delivering an 18-apartment scheme on St Petersgate and aims to start on site early next year.
Estate agent Edward Mellor is selling its town centre headquarters on St Petersgate, a site the company says could be redeveloped into 250 apartments across three towers.
Nearby, Eamar Developments is seeking consent for almost 100 apartments across 20 storeys.
Stockport is under pressure to deliver homes in the town centre having pulled out of the Greater Manchester Spatial Framework last year.
The authority’s withdrawal from the joint plan increased its housing delivery target, much of which would have otherwise been shared between the other nine Greater Manchester boroughs.
Stockport’s withdrawal was down largely to objections to Green Belt release, another reason the council is targeting the delivery of high-density town centre developments.
The council estimates it is required by government to deliver around 18,581 homes between now and 2038.
Stockport’s Town Centre West masterplan – which includes Capital&Centric’s Weir Mill redevelopment and Stockport Interchange – aims to deliver 3,500 homes over the next 20 years, prompting the need to look at other areas that could be suitable for residential development.